Intellectual Property

Patents

A patent provides protection for an invention to the owner of the patent. The protection is granted for a limited period, generally 20 years. Patent protection means that the invention cannot be commercially made, used, distributed or sold without the patent owner's consent.

Fact Sheets

A patent provides an exclusive legal right to an invention for a limited period of time, in exchange for public disclosure of that innovation. As with other property rights, patents may be sold, transferred, or licensed for a third party’s use.

"If they can screen out bad patents, the application becomes more attractive to potential licensees. The value of his system is how much noise there is. I know there's lots of bad patents out there." — Mark Schankerman, Professor of Economics, London School of Economics